December 9, 2019 – Toronto, Ontario – Newt Corporation (“Newt” or the “Company”) is pleased to announce the signing of an Enterprise Bill Payment SaaS contract with Píddelo, a private Mexican company, in Mexico City, Mexico.
Píddelo is a Mexican company that provides a robust and secure mobile application, where users can easily order a variety of products from their mobile phones. Products such as restaurant orders, fast food, groceries, medicine, gifts and flowers, are seamlessly delivered to the recipients. The app directly competes with Uber Eats and Rappiin the Mexican market. Píddelo app functions as an intermediary between shops, restaurants, supermarkets and carriers, to deliver mass consumption orders in real time. The app also provides bill payment and mobile top-ups.
Under the terms of the three-year contract, Newt’s SaaS software platform will be used for processing bill payments and mobile top-ups for all Píddelo app users exclusively throughout the entire Mexico. Newt shall be the exclusive provider of bill payment and top-up prepaid payment services, covering all Telecom, bill payment, and prepaid services for all Píddelo mobile app users.
Píddelo is entering the Mexican market with an aggressive social media marketing campaign starting in the end of 2019 and continuing throughout 2020. The company estimates a substantial growth in top-up and bill payment transactions and anticipates a steady growth in the years to come.
Sergio Maya Aleman, CEO of Latin America of Newt, stated: “We are constantly on the lookout for innovating companies that can add value to our market, focusing on new ways to include more and more customers into the mobile payment economy, enhancing their everyday experience. We will continue partnering with new companies and employing clear go to market strategies, in order to acquire as many users as we can in the short term.” He added: “Companies like Piddelo are our main focus for an aggressive growth in the Mexican market. We will continue to expand in Latin America as the market sector is steadily growing, and this contract represents a stable long-term revenue growth for Newt Corporation.”
Steven Hoffmann, Founder of Newt stated: “We are pleased with the progress of Newt’s Latin American subsidiary, and highly impressed with the recent partnerships developed by our Management. We continue to see optimal growth for our business, securing important contracts, and expanding our client base for Newt B2B SaaS Platform.”
Píddelo is a company headquartered in Mexico City, which focuses on providing delivery services of a variety of products, such as restaurant orders, food, groceries, as well as payments of services using a mobile app. Through the app, users can order or request virtually any product delivered to their door, and can pay via credit or debit card, cash, or using any other available payment method, making it a smooth and secure experience for the end consumer.
For more information, visit www.piddelo.com
Newt Corporation is a Canadian Company with sub sidiaries in USA, Europe & Mexico, that aims to become a Fintech leader in services of prepaid and bill payment transfers while providing solutions for providers targeting the unbanked market. Utilizing the latest payment processing technologies and partners, Newt provides merchants, consumers, and the unbanked population with cashless mobile payment, bill payment, prepaid products, and other services for mobile devices and Point of Sale locations.
By choosing Newt’s SaaS solutions, users and businesses can take away complex developing internal capabilities of accepting bill payments or point of sales and digital product purchases, allowing merchants a quick and seamless transaction processing, payment acceptance and enhanced digital product line for their businesses in a more secure and efficient way.
Newt’s current platform utilization and client base are expanding in Latin America, thus experiencing an increased growth of businesses using Newts SaaS software solutions. With recent top enterprise companies looking for mobile wallet solutions and new processing capabilities, Newt’s portfolio of services is expanding. Newt’s next generation payment transfer solutions use new methods for payments, digital transfers, and bill payment in a mobile application. The company’s platform has been designed from the ground up for modern digital transfers with an ecosystem with full configurability, open API integration, and enhanced value-added services, and has expanded its B2B market to retailers, money transfer services, and financial institutions.
For more information, visit www.NewtFinancial.com
For further information, please contact:
100 King St. West, Suite 5700
Toronto, ON M5X 1C7
Forward – Looking Information
Certain information set forth in this news release may contain forward – looking information that involve substantial known and unknown risks and uncertainties. This forward – looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, failure to enter into a definitive agreement and complete the Acquisition, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward – looking information. The parties undertake no obligation to update forward – looking information except as otherwise may be required by applicable securities law.